High-yield debt meltdown is ‘so similar to 2007’ @investorseurope #offshorebrokers | Investors Europe, Gibraltar | Scoop.it

In an interview with Reuters, Gundlach likened the selloff in high-yield debt to the 2007 financial meltdown, adding that if the Federal Reserve met Friday, it wouldn’t raise interest rates.

“People are too long credit and the credit is melting down and the stock market is whistling through the graveyard. It is so similar to 2007, it’s scary,” said Gundlach, who oversees $80 billion at the Los Angeles-based DoubleLine Capital.